Global Glosssary: Includes FCA Definitions & Handbook references

Scammer requests an upfront payment, promising a future service or huge return on investment.

Scammer targets members of an identifiable group (e.g., cultural, religious, or ethnic community) and curries favor with them to rope them into a fraudulent investment opportunity.

Approver permission  a permission given by the FCA following determination of a firm’s application under section 55NA of the Act, which entitles that firm to approve certain financial promotions for the purposes of section 21 of the Act, whether generally or subject to terms set by the FCA.

Approver permission exemption an exemption from the approver permission requirement, provided under the Financial Promotion Requirement Exemption Regulations, which enables a firm to approve a financial promotion in prescribed circumstances without the need for approver permission.

Approver permission requirement the general requirement imposed on a firm by section 55NA(1) of the Act not to approve (or purport to approve) the content of a financial promotion for the purposes of section 21 of the Act without approver permission.

Scam by a third party requiring a fee to “recover” funds lost in a prior fraudulent transaction.